|SECOND PHASE OF MBO SECURES FURTHER JOBS AND SAFEGUARDS THE ARJOWIGGINS BRAND
The management team of Arjowiggins Creative Papers has taken ownership of the remainder of the company’s activities, protecting nearly 300 jobs in Europe and China and safeguarding the future of the the iconic Arjowiggins brand.
The announcement follows the successful completion last week of a management buy-out of the companies UK operations which saved hundreds of jobs and two historic paper mills in Aberdeen and Kent.
The latest deal protects the Guarro Casas mill in Spain, which has been in operation since the end of the 17th century, the Quzhou mill in China and offices in France and Milan. This brings the total number of jobs secured to around 750.
The new company, Arjowiggins Group Ltd, will be based in Scotland and managed by an experienced leadership team under the direction of current Managing Director Jonathan Mitchell.
Arjowiggins is a name synonymous with paper manufacturing with prestigious brands such as Conqueror, Curious Collection, Rives, Pop'Set and Keaykolour. It is also the leader in the tracing paper market under the Gateway brand and also manufactures security documents and Powercoat for printed electronics.
Jonathan Mitchell, managing director, comments: “This is great news, not just for everyone at Arjowiggins but for the industry as a whole. The completion of the second phase of the MBO draws to a close an unsettling period for the business and we’re delighted to now be able to start a new chapter in the brand’s history.
“I’d like to extend my sincere thanks once again to our staff, customers, suppliers and the Scottish Government. Without their on-going support this deal would simply not have been possible.
"Arjowiggins Creative Papers has world leading brands and products and a talented team. There will be no major strategic change for the business. The priority now is to continue the projects we have already committed to, strengthen our activities in a sustainable manner and identify future opportunities for the sector."